Indian renewable power developer KSK Energy Ventures has commenced operations at an 11.6MW solar photovoltaic project in Rajasthan.
The project was developed in partnership with US-based manufacturer of copper indium gallium selenide (CIGS) thin-film photovoltaic solar panels MiaSole.
Developed under India’s Jawaharlal Nehru National Solar Mission, the project is of the largest solar power plants in the state.
MiaSole CEO John Carrington noted that India represents a tremendous opportunity for renewable energy.
"In 2013, we will expand our global footprint and our business model to invest in projects, acquire project pipeline and partner with leading developers and EPC companies in sustainable markets like India.
US Export-Import Bank provided a debt financing worth $9m for the development of the project.
"Ex-Im Bank’s support of MiaSole’s technology lowers the cost of project financing, and will expand the deployment of our California-made solar modules in projects globally," added Carrington.
MiaSole is planning to hire an additional 200 employees to further its manufacturing, research and development and commercial activities in California, US.
US Export-Import Bank chairman Hochberg noted, "This project financing facilitates exports from MiaSole’s California manufacturing center, will boost California’s economy and help to create hundreds of local jobs."